NEW YORK (TheStreet) -- The S&P 500
"The strong retail sales report will allay one crucial concern at the Fed about the soggy spending performance to start the quarter, thereby increasing the Fed's confidence about the recovery," said Millan Mulraine, deputy head of U.S. research and strategy at TD Securities. Mulraine said there's a high possibility this will raise the odds of the "considerable time" reference regarding keeping rates low being removed at next week's meeting.
Watch the video below for a closer look at how U.S. markets are doing in midday trading Friday:
The Dow Jones Industrial Average
Retail sales jumped by an as-expected 0.6% in August, and July's previously flat retail sales reading was upwardly revised to a 0.3% increase, the Census Bureau reported. The report was the most important data point of the week since last week's tepid job report.